June 10, 2024
4 min read
Transform Your Non-QM Loan Business With AI Tech

The Non-QM loan market is in the middle of so many things. Good things I would say.

On one side the industry is bouncing back with more originations per year after a dip with the onset of COVID. In fact, experts say the industry is more resilient and stronger than ever before. The recovery from  COVID has contributed to a sharp rise in home buying. Non-QM loans are the fastest-growing segment in the mortgage industry.

You know this. That’s not what I am here to talk about! The second part is what I am interested in.

Apart from the low-interest rates, the Non-QM loan market started to see another shift.  A shift in terms of technology adoption. Wholesale lenders have started to recognize the importance of technology. Companies across the United States started implementing technology solutions to offer a faster and smoother borrower experience.

According to a McKinsey survey, 47% of lenders said they would increase their technology budget in the next five years. This is a clear signal of the market sentiment towards technology and the impact it has on their businesses.

This has fast-tracked innovation in the space with the influx of technologies like AI and Machine Learning.

With over $2.5 trillion worth of loans expected to be disbursed in the next five years, the smart choice right now is to implement the right technology solution to maximize your revenue potential.

But, before making a decision on increasing your technology budget, let’s take a look at ways in which technology can transform your Non-QM loan business.


The current Non-QM loan process requires the underwriters to manually go through the bank statements of potential borrowers, import them onto a spreadsheet, and make a series of calculations to confirm eligibility and repayment capacity. This leads to a longer turnaround time for customers. How long? It roughly takes 3 days for a lender to get back to a borrower with a loan quote, if all goes well.

But, the rise of technology has made it possible to achieve more with less. ZenOCR uses state-of-the-art AI capabilities to increase the speed at which underwriters can analyze bank statements and issue a quote.

For example, the process that usually has a turnaround period of 2-3 days can now be completed in under 30 minutes. That’s 98% faster than the current process.


Whenever we talk about speed, the question that immediately pops into your head is about accuracy. The use of technology to auto-analyze bank statements eliminates the element of human error altogether. Your underwriters don’t have to look at bank statements multiple times to dot the i’s and cross the t’s. ZenOCR’s AI engine accurately analyzes the numbers in the bank statements right down to the decimal point, making us the highly accurate Non-QM bank statement analysis solution in the market.


In the current scenario, the only way for brokers to land more business is by increasing their team size.

According to a McKinsey report, the average productivity of an underwriter is 10 to 14 mortgages a month. That is one mortgage every two days!

With large brokerage firms being able to close several deals a month, the small and medium-sized businesses in the space can’t scale unless they hire more underwriters to scale the process. Even if they did, it would take a couple of weeks to a month to see results as hiring the process involves a few weeks of training.  

But, with ZenOCR, you can increase your processing capacity on-demand – handling the peaks and dips with ease. This will keep your operating costs in check and will help your existing team hit maximum productivity.

Increase In Sales

Technology helps businesses in several ways. It makes employees more efficient, helps customers receive a better experience, but most of all it has a positive effect on the revenue. For example, imagine what a 30-minute turnaround time for a loan quote would do to your business! You’ll respond the fastest among your competitors and the brokers will love you for that.  Result? An increase in revenue. A win-win for you as well as the brokers. ZenOCR customers have all experienced strong jumps in loan volumes.

Stay Ahead Of The Competition

We’ve all heard Charles Darwin’s quote “Survival of the fittest”. But, when it comes to the Non-QM loan market, we’ll have to change the quote to “Survival of the fastest”. Another challenge often faced by players in this space is the fastest company to generate a loan quote wins the customers. The only way to stay ahead of the competition while keeping your team size and costs in check is by using AI-powered solutions like ZenOCR. All you got to do is upload your bank statements, download the spreadsheet that has eligible income calculated, draw up a quote and send it to the customers. Easy peasy! While others are manually scanning the bank statements for a single request, you’d be sending your fourth loan quote for the day.

Too good to be true right?

Well, what can I say! We really outdid ourselves with our solution.

I guess by now you would’ve known where to spend your technology budget. If you wish to see ZenOCR in action or if you have any questions, feel free to schedule a demo and we’d be happy to get on a call right away.

The future is here and you’re just one call away from experiencing it.

Step into the future
Talk to us to understand how you can automate your lending processing using Prudent AI.
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